If you are wallowing in debt, you are likely having trouble finding a way out of it. Debt can pile up quickly. This is an issue that millions of Americans face each year. Bankruptcy is the best option available for those who are swimming in debt with no end in site. As you prepare to consult with your attorney, be sure to ask the questions outlined in this post.
Once you deem it is time to file for bankruptcy, the first question you should ask your attorney is which type of bankruptcy you should file. You have two options: Chapter 7 and Chapter 13. The lawyer will be able to look at your situation and present you with plenty of information as to which route to take.
The next question to ask centers around how long the process will last from the time you file to the time you exit bankruptcy. It’s good to get a handle on the length of the process so you know what to expect moving forward.
You should also ask your bankruptcy attorney about red flags that could be present in your case. These red flags can come from just about anywhere regarding your finances, so be sure to have the attorney review the case thoroughly.
Finally, you need to ask the attorney about the cost of filing for bankruptcy. Find out the court fees, filing fees and attorney fees. Ask if there could be any other fees tacked on by the court during the process.
As you prepare to file for bankruptcy in Long Island know that you should be as prepared as possible. The outcome will create a fresh start for you and your finances in New York.
Source: Findlaw, “5 Questions to Ask a Bankruptcy Lawyer,” accessed Feb. 21, 2018